For the average millennial or at least anyone that pays attention to the business world, the term “cryptocurrency” would not seem like such a strange word. If that is, then the terms Bitcoin, Ethereum or at least Blockchain should ring a bell. One might wonder, why are these terms suddenly so prevalent, especially cryptocurrency news? Computing is getting rather pervasive and the society is leaning towards digital services. The finance world too isn’t spared as the disruption of technology into this sector has fostered the birth and development of Fintech organizations.
These Fintech organizations look to digitize payments and transactions, offering the same services that are currently in existence but in a better, efficient and more effective way.
Blockchain is the network upon which most of these cryptocurrencies operate on. The history of blockchain and bitcoin, in particular, does not have a definite story. In 2009, an individual or group of individuals known to be “Satoshi Nakomoto” developed and published the technology to allow people make digital payments between themselves anonymously without having an external party to verify or authorize the transfer of the currency being exchanged.
Although technologies like this might seem rather complex, understanding how Blockchain works is quite easy, given that one has a basic idea of how networks work. Blockchain is simply a database shared between several users, containing confirmed and secured entries. It is a network, where each entry has a connection to its previous entry.
This technology affords a very secure model whereby every record in the database cannot be tampered with. Apart from the stellar security that this network offers, the transparency and speed at which the network operates give it an edge over the conventional way of conducting transactions.
In simple terms, cryptocurrencies are just monies in digital form, transacted via digital means and over a digital network. The transfer of these currencies is utilized with cryptography and the aforementioned blockchain network. Up until the 2010s, cryptocurrencies were not really known until Bitcoin made its breakout and this gave rise to the birth of new cryptocurrencies.
Cryptocurrencies have had their fair share of bullish and bearish trends, going to show how unstable they can be. The latest cryptocurrency news reports lots of people predicting prices for various cryptocurrencies in the years to come but no-one can say for sure.
Blockchain, on the other hand, is making its way into pervasive computing, especially IoT, giving way for the development of new solutions that embrace data security and transparency.
Despite Bitcoin’s surging price, block trades show restrained activity. The market sees more selling calls and buying puts, signaling cautious trader sentiment.
The crypto market has experienced heightened speculations in the recent past as more experts forecast a high approval rate for the spot Bitcoin ETFs in the United States.
In addition to the increasing developer activity on the Solana network, SOL has shown signs of recovery after a recent period of struggle.
Standard Chartered compares the Bitcoin ETF launch to the Gold ETF launch of 2004. It expects the BTC price to rally all the way to $200,000 in two years post the ETF approval.
Bitcoin hit its 20-month high on Monday as the former SEC chairman Jay Clayton said that the BTC ETF approval is inevitable.
Tentatively, the BNB Chain Fusion has been set for April 2024.
The recent transaction has sparked speculation within the space. Many people have suggested that the BTC developer has woken up after disappearing from the scene for over a decade.
BitMEX has announced the launch of its Vulcan Rocket space mission which is taking a Bitcoin to the moon just as the Dogecoin community anticipates its own space expedition.
Based on his historical prediction of 2015 and 2019, PlanB remains confident that the Bitcoin price could rally to $500K during the mega bull run of 2025.
The move into cryptocurrency is not the company’s first foray into the digital assets ecosystem. Last year, Mercari launched different crypto-related offerings for customers.
The frenzy began when the Solana network gained more attention, and the Bonk token rallied for several weeks, leading to its listings on major exchanges such as Binance and Coinbase.
For Bitcoin to compete with major currencies as a world reserve currency, more merchants must accept it for payment to further improve existing liquidity.
In a peculiar turn of events, a day following the transfer of a substantial 26.9 BTC, valued at $1.17 million, to Bitcoin’s Genesis wallet on January 5, the cryptocurrency community has been abuzz with various speculations and theories.
Bitcoin may now be used to determine the market value of goods and services in the region.
Despite the uncertainty in traditional markets, Bitcoin’s resilience may be supported by the anticipation of the launch of a spot ETF in the United States.